Shares of Muthoot Finance, Manappuram Finance fall on RBI guidelines

Friday, March 10, 2017, 11:17 AM

Shares of gold loan provider Muthoot Finance Ltd and Manappuram Finance Ltd, fell sharply on Friday, after the RBI prescribed a limit of Rs 20,000 for loan disbursements or repayments in cash. RBI said that with immediate effect, the loans amounting to Rs 20,000 and above can be disbursed only by cheque. Earlier, the threshold limit was at Rs 1 lakh and above.